10. Identify the normal balance of each of the following accounts by circling Debit or Credit...
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10. Identify the normal balance of each of the following accounts by circling Debit or Credit and write in where it is found on the balance sheet. Is it part of the ASSETS, LIABILITIES, STOCKHOLDERS' EQUITY, or NOT FOUND ON THE BALANCE SHEET (Not Found)? Is the account closed at month end-Y (Yes) N (No)? EXAMPLE: Cash Asset Closed Y Closed Y N Closed Y N Closed Y N Closed Y N Closed Y N Closed Y N Closed Y N Closed Y N Closed Y N Debit Credit a. Accumulated Depreciation Debit Credit b. Unearned Service Revenue Debit Credit c. Interest Expense Debit Credit d. Bad Debt Expense Debit Credit e. Retained Earnings Debit Credit f. Inventory Debit Credit g. Accounts Receivable Debit Credit h. Sales/Revenue Debit Credit i. Cost of Goods Sold Debit Credit j. Common Stock Debit Credit CA 10. Identify the normal balance of each of the following accounts by circling Debit or Credit and write in where it is found on the balance sheet. Is it part of the ASSETS, LIABILITIES, STOCKHOLDERS' EQUITY, or NOT FOUND ON THE BALANCE SHEET (Not Found)? Is the account closed at month end-Y (Yes) N (No)? EXAMPLE: Cash Asset Closed Y Closed Y N Closed Y N Closed Y N Closed Y N Closed Y N Closed Y N Closed Y N Closed Y N Closed Y N Debit Credit a. Accumulated Depreciation Debit Credit b. Unearned Service Revenue Debit Credit c. Interest Expense Debit Credit d. Bad Debt Expense Debit Credit e. Retained Earnings Debit Credit f. Inventory Debit Credit g. Accounts Receivable Debit Credit h. Sales/Revenue Debit Credit i. Cost of Goods Sold Debit Credit j. Common Stock Debit Credit CA
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Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
Posted Date:
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